ITW declares quarterly dividend

Illinois Tool Works (ITW) will reward shareholders with a cash dividend this quarter, its directors have confirmed.

The New York-listed company, which owns brands such as Hobart, Foster and Bonnet, has declared a regular quarterly cash dividend of $0.36 cents (£0.22) per share or $1.44 cents (£0.89) per share on an annual basis.

It said the dividend will be paid on July 10th 2012 to stockholders of record.

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ITW’s food service equipment division is one of eight operations that the company manages. There are almost a dozen brands within the equipment side of the business.

Last month ITW revealed that organic sales in Europe slipped 1% during the quarter, but 7% organic growth in North America and the contribution of recent acquisitions meant revenues tipped the $4.5 billion (£2.8 billion) mark.

This year marks ITW’s 100th anniversary.

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